All Forum Posts by: Rich Bergstrom

Thank you both. Both very good suggestions. I’ve been in touch with the Turnkey provider. They were very helpful, and suggested these options. 1. An offer made by them to purchase the properties. 2. Submit the properties directly to their clients to purchase as a package. 3. Submit to the open market. These are good options going into this, and am hoping things will work out with option 1 or 2, for I’ve had a good relationship with them for 10 years.  But now really looking to reaping the rewards of as I approach retirement. 

Have invested in Turnkey’s since 2013, and am now looking to sell one or two into a 1031 exchange. There’s a possibility I will not exchange for one of the Turnkey providers properties, which could make it more challenging I assume. My question for someone with similar experience: How did you sell? Though a local broker or through the Turnkey provider’s broker?

@Dennis Maynard

Thanks for the reply… how would you handle the damage to the carpet from their cats claws? The townhouse is 15 years old, but the condition of the carpet is very good, I suspect it was replaced before I owned it in 2014.

@Rich Bergstrom

Yes the contact is still in force at M2M after a 5 year stay. I almost have a new tenant, just needs contract signature and deposit this week.

I feel the contract is enforceable, only from what I have looked into online for rental laws, but wanted the appreciated advice here too.

Behind all this is the fact that I recently discovered that their cat used the carpeted stairs as a scratching post. It literally was torn down to the weave on about 5 steps. Although the carpet is in very good condition, it is 15 years old, but had a number of years left. Since it is more than 10 years, it is difficult to place a loss value on the damage. This is why I thought enforcing the 60 day notice is simple. They have been great tenants, so will charge them the few days until the new tenants are in.

@Jill Richard

I own out of state. My properties are fully rented. Personally .. I hate the cold calls and txt. I get at least 5 - 10 per week. If I wanted to sell, I would do it.

I talk to other out of state owners too… same thing with weekly annoying calls, txt, and mailers, which go directly to trash.

On May 27 my California tenant gave me notice that they will move out by July 2. They have been in the place 5 ½ years and are paying month to month. However their signed lease says they have to give a 60 day notice. Does anyone know, in California if they have honor the 60 notice if it is in their contract, or 30 days is the law? If the 60 days presides, this would put them responsible up to July 27.

Thanks,

Rich

We have home in the SF Bay Area. We will be serving the 3 day notice to pay or quit.  My question is, there is a place for where the payment should be made to:  Name, address, telephone number.  For privacy we don't want to put our home address.  Can a PO Box number be used.    These tenants can be quite volatile, so if we list our home address, which is close to the property, have have retribution concerns.

Thanks Lorie!

Does anyone have a recommendation for Property Management in the Dallas, Tx area?

Thanks,

Rich